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COPY <br /> RESOLUTION NO. P-23oz <br /> RESOLUTION APPROVING LEASING AGREEMENT — <br /> WASTEWATER TREATMENT CAPACITY RIGHTS - AND <br /> AUTHORIZING AND DIRECTING EXECUTION THEREOF <br /> (SEAPORT REFINING � ENVIRONMENTAL, LLC) <br /> WHEREAS, a leasing agreement entitled "Wastewater Treatment <br /> Capacity Rights" (the "Capacity Lease") by and between the Port of Redwood <br /> City, by and through its Board of Port Commissioners (the "Port") and Seaport <br /> Refining and Environmental, LLC. ("Seaport"), for the leasing by Port to Seaport <br /> of wastewater treatment capacity rights has been presented to the Board of Port <br /> Commissioners for approval; and <br /> WHEREAS, the Capacity Lease provides in part that the operative date of <br /> this Capacity Lease shall be the same as the effective date of the lease <br /> agreement (the "Land Lease") between the City of Redwood City, by and through <br /> its Board of Port Commissioners (the "Port") and Seaport Refining and <br /> Environmentaf, LLC ("Seaport") for the property known as 679 Seaport Blvd. <br /> Redwood City, CA., which is presented to the Board of Port Commissioners for <br /> approval concurrently with the Ordinance for the approval of said Land Lease; <br /> the term of this Capacity Lease is for a period of Seven (7) Years and ending <br /> upon termination of the Land Lease; this Capacity Lease will be automatically <br /> extended in the event that Seaport duly exercises its option to extend the term of <br /> the Land Lease; Seaport shall pay the Port as rental for the leased capacity <br /> during the initial term of the Capacity Lease (the "Initial Term") the amount of <br /> $0.006 per gallon and $0.007 per gallon during the extended term of the <br /> Capacity Lease (the "Extended Term"); the minimum annual guaranteed amount <br /> Fxs-�s <br /> Reso 234 <br /> 12/03/15 <br /> g <br /> �l�r��.��� <br />